Question # 1

A firm's total revenue is Rs. 4,500 when it sells 15 pairs of boots compared to Rs. 4,480 when it sells 14 pairs,. The marginal revenue of the 15th pair of boots is.

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Rs.20

Rs.320

Rs. 4,480

Rs.300

in UDCs a potential resource of saving is

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Structural unemployment

Over employment

Domestic saving

Disguised unemployment

The recording of the data is dome on the basis of the scheme.

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coding

Tabulation

Classification

Analysis

Second step in problem formulation is

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Statement of the problem

Understanding the nature of the problem

Survey

Discussions

The reason that only final sales are counted in GDP is

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To avoid double counting good that are sold so as to be resold

To not count production in other countries

Because the government can't get records on intermediate sales.

To simplify the computation and no other reason

Bank and other corporations were nationalized by

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Z.A. Bhutto

Nawaz sharif

Zia ul Haq

None of these

In the absence of international capital controls, central banks set ______ to provide the correct incentive for speculators

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Money supply targets

Income policy

Interest rates

Inflation targets

It is appropriate to use the supply and demand model if in a market.

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Everyone is a price taker with full information about the price and quantity of the good.

Firms sell identical products

Costs of trading are low

All of the above

in 1950s following sector was ignored

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Agriculture sector

industrial sector

import sector

Services sector

If the "Regulated -market" price is below the equilibrium price.

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The quantity demanded will be greater than quantity supplied

Demand will be les than supply

Quantity demanded will be less than quantity supplied

Quantity demanded will equal quantity supplied

When the period of Rabi crops starts and when it end.

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October - May

January - October

May- October

June - September

The gift exchange motive suggests that

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Workers value benefits like health insurance more than job security

Workers prefer a nice work environment even if they must accept lower wages.

Workers who feel well treated will work harder and more efficiently

Workers will shirk if they are paid a low wage

When IMF was established.

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1944

1945

1946

1947

Which trade theory contends that a country that initially develops and exports a new product may eventually become an importer of it and may no lorger manufacture the product.

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Theory of factor endearments

Theory of overlapping demands

Economies of scale theory

Product life cycle theory.

A product will be traded only if the pre trade price difference between the two countries

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Is less than the cost of transporting it between them

is greater than the cost of transporting it between them

Equals the cost of transporting it between them

More information is needed to answer this question

Shifting cultivation is found in

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Tropical zone

Sub tropical zone

Both a and b

None of these

The short run impact of unanticipated expansionary monetary policy is that.

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Real output decrease

Employment decreases

Real interest rates decrease

Profit margins decrease

Which financial instruments provide a buyer the right to purchase or sell a fixed amount of currency at a prearranged price within a few days to a coupled of years.

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Letter of credit

Foreign currency option

Cable transfer

Bill of exchange

Human wants are

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Always fixed

Limited

Unlimited

Likely to decrease over time

The Isoquant curve shows different combinations of two factors of production which give the producer.

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Different level of output

High level of output

low level of output

Same level of output

The multiplier which specifically refers to an equal increase in government spending and taxes, giving rise to that same equal increase in national income is called.

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the Keynesian multiplier

The balanced budget multiplier

the deficit multiplier

None of the above

The first level of output at which the long run average costs are minimized is called.

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The minimum Efficient Scale

The minimum External scale

The Maximum External scale

The maximum Effective scale.

Because a monopoly hires workers up to the point where their marginal revenue product equals the wage rate the monopoly will.

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Pay less than the going wage rate

Pay a wage equal to the value of the marginal product of labor

Pay less than the value of the marginal product of labor

Pay workers what they are worth to society

Should international transpiration costs decrease, the effect on international trade would include a.

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Increase in the volume of trade

smaller gain from trade

Decline in the income of home producers

Decrease in the level of specialization production.

Real GNP is a crude measure of national welfare because it excludes.

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Consumption

Investment

Export's

work in the home

In developing countries the co existence of modern and tadeonal method of production in urban and ruler sector is called.

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Dualism

Under employment

Under estimation of resources

None of these

The impact of contractionary fiscal policy, according to new classical theory is that.

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Real interest rates do not change

Aggregate demand increase

Current real output substantially decreases

The price level substantially increases.

Which of the following solutions does the economist suggest to cost inflation in higher education.

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Cutting professor salaries

Make students live at home

Reduce college from four to three years

B and C

Research adopted by

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Scientific method

Political method

Invidia method

Public method

The equilibrium level of income is.

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Rs. 360

Rs.600

Rs.440

Rs.500

If a price floor of Rs.15 is imposed, the governments cost is.

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Rs.150

Rs.300

Rs.750

Rs.450

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